Standard Chartered Launches Institutional Spot Trading in the UAE

 

Standard Chartered, the British multinational banking and financial services group, has expanded its presence in the UAE by launching institutional spot trading for Bitcoin and Ether.

 

While this is not the first time institutional BTC and ETH spot trading has been launched in the UAE, Standard Chartered’s launch is unique, as it is the first Global Systemically Important Bank (G-SIB) to offer institutional Bitcoin and Ether deliverable spot trading in the region and is currently the only global bank offering such capabilities in the Emirates.

 

By launching these institutional grade spot trading services, Standard Chartered enables eligible institutional clients to access deliverable Bitcoin and Ether spot trading through its electronic trading channels.

 

“The UAE has developed a clear digital assets regulatory framework that supports institutional participation and innovation,” Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan at Standard Chartered, said.

 

“Extending our Bitcoin and Ether spot trading capability to institutional clients is a significant step in broadening our regulated digital asset proposition in the market. By combining execution with secure custody, governance and the connectivity of a global bank, we are providing clients with a more integrated way to participate in digital asset markets.”

 

The launch of Standard Chartered’s institutional spot trading service came just a few days after the bank became the first authorized bank distributor of the HKD-backed stablecoin developed by Anchorpoint Financial Limited.

 

Standard Chartered has also been involved in several pro crypto and tokenization friendly moves, launches and partnerships. Notable among these was its acquisition of Zodia Custody in May, a move designed to support institutional clients.